Iraq's tech ecosystem offers bright spot for private sector
Despite numerous regional and country-specific challenges, Iraqi start-ups had a good year.
Despite a global slowdown in venture capital deal-making, Iraq’s start-up scene can boast a number of successful deals in 2022.
Most recently, on Dec. 7, Erbil-based delivery start-up Lezzoo acquired the business-to-business marketplace platform Sadyo for an undisclosed amount. The acquisition is part Lezzoo’s expansion plans as it works to digitize Iraq's food supply chain.
In October, Baghdad-based Orderii, an e-commerce platform that provides logistics services for sought-after goods only available on foreign sites, secured six figures in funding in a pre-seed round.
Unlike Saudi Arabia, the United Arab Emirates or Egypt, Iraq does not have a thriving start-up ecosystem and largely goes unnoticed by most regional or international venture capital investors. However, a proliferation of new start-ups, an improving political and security environment as well as a positive economic outlook could change the course of this in the coming years.
